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if taxes go up on middle income people, if that happens because of the fiscal cliff, they will spend less money at the cash register. those people will buy less from fastsigns. melissa: thank you for being here. promise me you will all come back. >> we'll come back. melissa: thank you. >> thank you. melissa: just when you thought there couldn't be anymore bailouts, think again. the federal housing administration is on the verge of collapse and you and i could be stuck with a multibillion-dollar tab. >>> syria's regime loading bombs with sarin gas. is it ready to blow through the u.s.'s so-called red line. details on this story coming up. do you ever have too much "money". [ male nouncer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a gal plan attorney is available in most states with every personalized document to answer questions. get startedt legalzoom.com today. and now you're protected. melissa: so in case you hadn't heard we could be looking a
if taxes go up on middle income people, if that happens because of the fiscal cliff, they will spend less money at the cash register. those people will buy less from fastsigns. melissa: thank you for being here. promise me you will all come back. >> we'll come back. melissa: thank you. >> thank you. melissa: just when you thought there couldn't be anymore bailouts, think again. the federal housing administration is on the verge of collapse and you and i could be stuck with a...
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but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if they can get past tax rates and spending cuts, then they will be able to deal with the peripheral issues. but we don't have much time. if a deal isn't reached or a framework isn't reached in the next week or, so it's going to be a big problem. >> all right, thanks for that. good to see you. > >>> nokia -- we'll tell you more when we come back in a few moments. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sal
but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if...
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Dec 7, 2012
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cliff with revenue and spending cuts departments are willing to embrace so we can make sure we avoid this fiscal cliff and particularly raise the debt ceiling and avoid economic disaster. >> if that's the only particular issue to confront us next year if it is not wrapped up in this one negotiation as it should be. later in the show, we'll talk to chris van hollen, your colleague about a motion to dismiss possibility that would circumvent john boehner's extrasty to keep this bill off the floor. we will see about that. look, will rogers famously said i'm not a member of on organized party, i'm a democratic. you seem to tame the beat. under your leadership, the party has been unified. you had remarkable gains in the senate. how did you do it? >> this is a team effort. in fact, you took the words right out of my mouth from the d.n.c. meetings. i quoted will rogers in celebrating our victory because i think that will rogers would be surprised and proud that the party that he knew not to be organized was very well organized, had a ground game that was well coordinated that, you know, the
cliff with revenue and spending cuts departments are willing to embrace so we can make sure we avoid this fiscal cliff and particularly raise the debt ceiling and avoid economic disaster. >> if that's the only particular issue to confront us next year if it is not wrapped up in this one negotiation as it should be. later in the show, we'll talk to chris van hollen, your colleague about a motion to dismiss possibility that would circumvent john boehner's extrasty to keep this bill off the...
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Dec 10, 2012
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for the fiscal cliff she represent as balanced solution. spending cuts and a increase in taxes. kron 4 news. >>> we have clear skies out there across the bay area on this sunday evening after a spectacular weekend. it was cool on saturday. it was foggy but today just an "a" plus day. sunshine. temperatures in the 60s and 70s. and even right now, san jose and san francisco in the upper 50s. antioch mid-50s. cooler for union city, 49 degrees. tonight clear skies every place but there could be a few patches of dense fog at the ground and to the north bay valleys. best chance is closer to sun rise. we could have limited visibility. rest of the day, lots of sunshine. another mild day. most places get into the 60. look for increasing clouds tuesday from a weather system in the pacific. right now clear skies. and the storm track is into alaska. there sadevelopping storm there -- is a developing storm there. it will bring us rain and cooler temperatures wednesday. noon tomorrow, we are clear. clouds off shore and remains that way for monday night and into tuesday morning but by tuesday
for the fiscal cliff she represent as balanced solution. spending cuts and a increase in taxes. kron 4 news. >>> we have clear skies out there across the bay area on this sunday evening after a spectacular weekend. it was cool on saturday. it was foggy but today just an "a" plus day. sunshine. temperatures in the 60s and 70s. and even right now, san jose and san francisco in the upper 50s. antioch mid-50s. cooler for union city, 49 degrees. tonight clear skies every place but...
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veterans if no agreement is reached on the so-called fiscal cliff. this is 30 minutes. >> thank you, tommy. first, let me thank secretary panetta for his unwaiverring support, both for those of us in va, and the men and women who wear and have worn the uniforms of the nation. our close partnership, this meeting that we have today, on their behalf, has never been more important than it is today. entering the holiday season, i thank the men and women who spend these holidays away from their families, defending our nation, we're all very grateful for their service and sacrifice. as leon and iñhr discussed very little of what we do here in va originates here. most of what we work on originates in dod, and that's why achieving our priorities at va requires this close and collaborative working relationship. we have more work to do, but with president obama's strong support and guy dance, we brought the two departments closer together than ever before. we've underwritten joint va-dod medical facilities where they make sense, harmonizing our acquisition dec
veterans if no agreement is reached on the so-called fiscal cliff. this is 30 minutes. >> thank you, tommy. first, let me thank secretary panetta for his unwaiverring support, both for those of us in va, and the men and women who wear and have worn the uniforms of the nation. our close partnership, this meeting that we have today, on their behalf, has never been more important than it is today. entering the holiday season, i thank the men and women who spend these holidays away from their...
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. >> with about four weeks to go before that fiscal cliff... of tax hikes and spending cuts gets triggered, negotiations still appear to be at a standstill, president obama told bloomberg news, the latest plan put forth by house speaker john boehner, simply does not add up. republicans have been equally dismissive of the last proposal from the president. tax rates on the wealthy remain the key sticking point between both sides. after a white house meeting tuesday, a bi- partisan group of governors expressed hope that an agreement will be reached soon. experts forecast economic turmoil in january, if a deal is not reached. >> john boehner took a break from the negotiations to help light of the christmas tree. eagle scout, from colorado springs helped out and there is. the crowd in cheers and the u.s. air force played " a christmas tree " and other holiday classics. this is a spruce tree from call rental white river national forest. it has 10,000 lights, ornaments and will be let in each night until the day after christmas. >> we are going to tak
. >> with about four weeks to go before that fiscal cliff... of tax hikes and spending cuts gets triggered, negotiations still appear to be at a standstill, president obama told bloomberg news, the latest plan put forth by house speaker john boehner, simply does not add up. republicans have been equally dismissive of the last proposal from the president. tax rates on the wealthy remain the key sticking point between both sides. after a white house meeting tuesday, a bi- partisan group of...
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barack obama is negotiating good the republicans how to avoid the so-called fiscal cliff it's a set of spending rises and tonks cuts that are set to take effect on the first of january and could be ruinous to the economy but does the average american see a day looming do all these new york residents try to find out. america is about to go over the fiscal cliff are you worried what should we do about it this week let's talk about that do you know the fiscal cliff. do you think a lot of americans do you know so then why is the media talking about it incessantly well i i guess i have not as informed as i should be but i just kind of figure it might work out do you think most people feel that way you know you think most people are worried i think they are and i think that if i ignored it all go away do you think calling it something like the fiscal cliff minimizes it yes and no i definitely agree that it's a complex problem i don't think it simplifies it though i think it adds an element of panic or fear looming. doom that and the media loves that yeah do you think there's actually somethi
barack obama is negotiating good the republicans how to avoid the so-called fiscal cliff it's a set of spending rises and tonks cuts that are set to take effect on the first of january and could be ruinous to the economy but does the average american see a day looming do all these new york residents try to find out. america is about to go over the fiscal cliff are you worried what should we do about it this week let's talk about that do you know the fiscal cliff. do you think a lot of americans...
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Dec 11, 2012
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i think what people don't understand is that fiscal cliff is not about spending, it's about cutting spending too fast and the impact that would have on our economy. >> i understand that. but we're talking about other, not health care mandatory savings that the administration put forward. $100 billion that have $240 billion is better i.r.s. enforcement, meaning more rapid and efficient gathering of tax revenue, and the $61 billion financial crisis fee. which is a tax. and then there's a $44 billion changing in payment on timings that only a one-time only savings, and $27 billion from higher fees from federal employees. republicans would look at that and say, that's not reducing the size and scope of government, that's fees, better i.r.s. enforcement, and making federal employees pay. that's not changing anything structurally in the government. >> here's what i would say. as demonstrated by yours remaintation, there's specificity in there. we haven't seen any specificity from republicans. no question republicans may have different proposals but we haven't seen them about how they would reduce
i think what people don't understand is that fiscal cliff is not about spending, it's about cutting spending too fast and the impact that would have on our economy. >> i understand that. but we're talking about other, not health care mandatory savings that the administration put forward. $100 billion that have $240 billion is better i.r.s. enforcement, meaning more rapid and efficient gathering of tax revenue, and the $61 billion financial crisis fee. which is a tax. and then there's a...
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Dec 9, 2012
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cliff, and he is not interested at all in cutting spending. >> the senate minority leader adds that what the president is interested in is getting as s much taayer money a as he can said that he can spend to his heart's contntent. wiwith hispproval ratings going up and congress' at historic lows, why would t president back down, charles? >> to some extent he is underestimating the dama he woduffer if we e go over the cliff. for suret will hurt republicans in congress, and that is why democrats in congressss are relishing going over theliff. but obama is not running again unlike democrats in the congress. if we go over the cliff and into the recession that cbo has predicted withth a 9% unemployment, that will wreck his second term. i am not sure he has all the cards. republicicans have their backs against the wall, but he may be overplaying his hand. he is pushing for unconditional surrender, and ii am not sure e by republicans will go along unless there is some give from obama. >>>> unconditional surrerender rk? >> i am not sure what the exact policy is. the president has the advant
cliff, and he is not interested at all in cutting spending. >> the senate minority leader adds that what the president is interested in is getting as s much taayer money a as he can said that he can spend to his heart's contntent. wiwith hispproval ratings going up and congress' at historic lows, why would t president back down, charles? >> to some extent he is underestimating the dama he woduffer if we e go over the cliff. for suret will hurt republicans in congress, and that is...
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the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of fracturing that we're doing, the fact that housing has been doing tremendously well, and interest rates remain very low with prices, so there's some sense that there's a bit of a renaissance on the horizon, and if the government doesn't mess that up too much, 2013 could end up being as good as 2012 if not a little better. i don't know if you completely disagree with that, peter, but i think there's enough good going on that it could offset the bad. >> to you think it could go up to 10% unemployment. do you agree with peter on that? >> i don't know. i don't know if it will go go up
the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of...
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cliff, and clearly not been tested at all in cutting and spending. >> the senate minority leader says that what the president is interested in is getting as much taxpayer money has he can so that he can spend to his heart's content. with his approval ratings going up and congress' numbers at historic lows and the unemployment rate dropping, why with the president back down? charles? >> to some extent he is under estimating the damage she will suffer if -- he suffer if we go over the cliff. it will hurt the republicans in congress, which is why democrats will relish going over the cliff. but obama is not running again, unlike democrats in congress. he is thinking of his legacy. if we go over the cliff and into recession, and the cbo has predicted 9% unemployment, a drop in gdp, that will wreck his second term. i am not sure he has all the cards. he has the advantage and republicans as their backs against the wall, but he may be overplaying his hand. he is pushing for unconditional surrender. i am not sure republicans will go along unless there is some give on obama's part. >> unconditi
cliff, and clearly not been tested at all in cutting and spending. >> the senate minority leader says that what the president is interested in is getting as much taxpayer money has he can so that he can spend to his heart's content. with his approval ratings going up and congress' numbers at historic lows and the unemployment rate dropping, why with the president back down? charles? >> to some extent he is under estimating the damage she will suffer if -- he suffer if we go over the...
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cliff. a series of tax increases and spending cuts due to kick in at the end the year. >> god bless us, everyone. >> reporter: speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining up against him. jim demint a tea party leader said speaker boehner's $800 billion tax hike will destroy american jobs and allow politicians in washington to spend even more. disagreements among republicans and democrats here on capitol hill is nothing new, but tuesday a republican aide told us the two sides aren't even talking. not surprisingly the white house disagrees. >> i can guarantee you conversations continue at different levels. and among different groups. >> reporter: both parties are ready to play the blame game in case negotiations fail. >> there's only one person out of 370 million americans who can sign something into law and that's the president. >> 60% of a
cliff. a series of tax increases and spending cuts due to kick in at the end the year. >> god bless us, everyone. >> reporter: speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining up against him. jim demint a tea party leader said speaker boehner's $800 billion tax hike will destroy american jobs and allow politicians in...
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fiscal cliff. what those tax increases mean to an average american family of four earning $50,000 a year is over $2,000 in higher income taxes. add to that expiration of the alternative minimum tax patch, new taxes mandated by the federal health care bill, and the reinstatement of the death tax, which will impact the next generation of farmers, ranchers, and small business owners, which americans will see the largest tax increase in the history of our country. if all of this happens, the congressional budget office predicts the nation's economy will shrink next year and the unemployment rate could rise again. in other words, we go back into recession. i believe we can avoid the fiscal cliff and address our massive deficit but that requires doing three essential things: reforming our tax code, reforming entitlement programs, and better controlling our spending. we can get additional revenue by reforming our tax code. that means closing loopholes and limiting deductions. by closing loopholes and limi
fiscal cliff. what those tax increases mean to an average american family of four earning $50,000 a year is over $2,000 in higher income taxes. add to that expiration of the alternative minimum tax patch, new taxes mandated by the federal health care bill, and the reinstatement of the death tax, which will impact the next generation of farmers, ranchers, and small business owners, which americans will see the largest tax increase in the history of our country. if all of this happens, the...
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. >> host: domestic spending cuts is on the table for the fiscal cliff talks. two different perspectives for you here. isabel sawhill, brookings institution. brookings center on children and families. james capretta ethics and public policy center and visiting scholar at aei. let me begin with you. are these potential domestic cuts under sequestration devastating or manageable? >> guest: somewhere in between. not a good idea. they would be very deep cuts, you know, an 8% cut across the board is a very significant one-time cut for any program to sustain in immediate year period. so they're not a good idea. would it be the end of the world, no? >> host: what do you mean by that? >> guest: well, i mean there would be downsizing of a lot of services across the government in terms of the domestic accounts. so it would be fewer services being provided. there would be reduced federal employees. some grant programs would take a haircut of five, 10%. so there would be downsizing of the services provided by the federal government. but the economy would go on and the gove
. >> host: domestic spending cuts is on the table for the fiscal cliff talks. two different perspectives for you here. isabel sawhill, brookings institution. brookings center on children and families. james capretta ethics and public policy center and visiting scholar at aei. let me begin with you. are these potential domestic cuts under sequestration devastating or manageable? >> guest: somewhere in between. not a good idea. they would be very deep cuts, you know, an 8% cut across...
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cliff instead of engaging in serious talks to avert the cliff, that includes spending cuts and tax reforms the president once supported. the white house has only offered a joke. i understand we have speaker boehner to the microphones. let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase on the debt limit, like forever. four days ago we offered a serious proposal, based on testimony of president clinton's former chief of staff. since then, there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the cliff. instead of cutting spending, the president want to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue
cliff instead of engaging in serious talks to avert the cliff, that includes spending cuts and tax reforms the president once supported. the white house has only offered a joke. i understand we have speaker boehner to the microphones. let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the...
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economy can go right over the fiscal cliff. and the $600 billion question. will the fed, does the fed have the fiscal fire power to offset tax hikes and spending cuts and keep the economy alive? it is a good question. we do expect the fed to keep interest rates near zero at least near 2015 and also continue to buy agency backed at the pace of $4 billion per month. a big change is the end of so-called operation twist and the potential start of what some are calling qe4. there are some big questions. do we expect some answers in about 5 minutes? let's hope. but we may not have to wait. we've got our own fed insider steve liesman here. he is in washington, where he himself scaled the georgian columns of the fed building. he is here with a preview. steve, what can we expect from the final fed decision of 2012? >> as you know, brian, i run a spdr line from the monument. that's how we get up here. this is really a historic day, and i think the market really hasn't focused on it. the fed's balance sheet is really about to explode. you just gave the numbers. i want
economy can go right over the fiscal cliff. and the $600 billion question. will the fed, does the fed have the fiscal fire power to offset tax hikes and spending cuts and keep the economy alive? it is a good question. we do expect the fed to keep interest rates near zero at least near 2015 and also continue to buy agency backed at the pace of $4 billion per month. a big change is the end of so-called operation twist and the potential start of what some are calling qe4. there are some big...
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. >> his demand involve spending increasing, no decreases, at least under the fiscal cliff we have some mandatory cutting, albeit disproportionately to defense spending but it's better than accepting obama's terms crammed down our throat. boehner needs to paint obama as the one who is holding the country hostage. he wants to talk about holding the middle class hostage? no, it's him holding the entire country hostage and our kids hostage, with his krin call refuse ool to enter the entitlement reform game. >> wow he is really bad. >> stephanie: yeah i can see why he didn't get the radio show. >> sheky. >> stephanie: that was so merrill osmond. >> merrill was kind of the leader. >> stephanie: i dove donnie. steve doocy. >> europe is great because they have wonderful food and runny cheeses, but we shouldn't base our policies on theirs because they are stinkers. >> we should base it on singapore where they have no unemployment, and they have a competitive market. that protects workers. >> stephanie: we should be like singapore? >> oh, my god. holy crap. he is a bigger idiot than i thought. h
. >> his demand involve spending increasing, no decreases, at least under the fiscal cliff we have some mandatory cutting, albeit disproportionately to defense spending but it's better than accepting obama's terms crammed down our throat. boehner needs to paint obama as the one who is holding the country hostage. he wants to talk about holding the middle class hostage? no, it's him holding the entire country hostage and our kids hostage, with his krin call refuse ool to enter the...
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cliff balance. >> that's right. they say he is focused as you heard in that sound bite about taxes and that part of it. they are not hearing a lot about spending cuts which republicans obviously think is the big driver of the debt issue. when the president is now demanding that raising the nation's debt ceiling combined in this deal. what republicans like mitch mcconnell think is going on the president just wants to spend more money. listen. >> what the president is really interested in as we learned just yesterday, is getting as much taxpayer money as he can first by raising taxes on small business that he believes are making too much money and then on everybody else. not so he can lower the debt or the deficit but so he can spend to his heart's content. as a result some democrats have pushed the president to just raise the nation's debt ceiling on his own. they believe he has that executive power by invoking the 14th amendment of the constitution. but jay jay cancer carney the white house spokesman has studied tha
cliff balance. >> that's right. they say he is focused as you heard in that sound bite about taxes and that part of it. they are not hearing a lot about spending cuts which republicans obviously think is the big driver of the debt issue. when the president is now demanding that raising the nation's debt ceiling combined in this deal. what republicans like mitch mcconnell think is going on the president just wants to spend more money. listen. >> what the president is really...
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. >>> president obama is warning republicans not to use the fiscal cliff to try to win concessions on raising the nation's borrowing limit. nbc's danielle lee is live on capitol hill this afternoon where a perfect storm over spending and borrowing and taxes is shaping up here at the end of the year. danielle? >> reporter: pat, that's a good way to describe it. both sides are digging in their heels, and with no move to avoid the fiscal cliff, or to raise the debt ceiling which is currently at $16.4 trillion, now there's new concern about what could happen to our credit rating in the new year. each day toward the fiscal cliff is also another day closer to the country maxing out on its borrowing limits. president obama called it a dangerous lesson when he talked to business leaders today. >> the only thing that debt ceiling is good for as a weapon is to destroy your credit rating. >> reporter: he's worried republicans may refuse to raise the debt ceiling and risk defaulting on the country's loan. >> that is a bad strategy for america. it's a bad strategy for your businesses. and it is no
. >>> president obama is warning republicans not to use the fiscal cliff to try to win concessions on raising the nation's borrowing limit. nbc's danielle lee is live on capitol hill this afternoon where a perfect storm over spending and borrowing and taxes is shaping up here at the end of the year. danielle? >> reporter: pat, that's a good way to describe it. both sides are digging in their heels, and with no move to avoid the fiscal cliff, or to raise the debt ceiling which is...
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on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish the rich and perceived reward for base. doesn't put more money in the federal treasury. the republicans give in to this in spirit of compromise, i respect alan simpson. but this is a time for the republicans to say no to spending no, borrowing. no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but under our system the congress writes the law and president
on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish...
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Dec 5, 2012
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so when we look at the fiscal cliff and everything else in terms of actual cuts in spending, everybody recoils in horror because they know it implies. >> you made your point, though, we surrendered to fdr, and instead of supplementing people, instead of letting them earn their own success, we're going to somehow try to deal with outcome rather than opportunity and pay for it. and you want to pay for -- >> no, i don't. >> in a fairer society. what you see as a fairer society. >> i didn't say it was a fairer society. but chris brought up an important point. and i want people to talk about the "wall street journal" today. we're not talking about cutting spending, not talking about cutting growth rates, which is a huge difference, one reason why people like me look at former presidential candidate mitt romney talk about npr or planned parenthood. the number one answer for balancing the budget is foreign aid. which if you really wanted to balance the budget and you don't always have to go to the department of justice or whatever it may be. but over the next ten years, 90% of federal outlays
so when we look at the fiscal cliff and everything else in terms of actual cuts in spending, everybody recoils in horror because they know it implies. >> you made your point, though, we surrendered to fdr, and instead of supplementing people, instead of letting them earn their own success, we're going to somehow try to deal with outcome rather than opportunity and pay for it. and you want to pay for -- >> no, i don't. >> in a fairer society. what you see as a fairer society....
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known as the fiscal cliff. despite a call between president obama and john boehner, the two sides appear to be no closer to a compromise. are republicans working on the scenes on a plan b? wall street journal columnist, dan henninger and kim strassel. you have bean working the phones, is there something going on between speaker boehner and the president? >> no, i think that they are nowhere and it's because the president is refusing to budge at all on the top toks ratestopx rates and we'll go off the cliff if the republicans don't acreed to that demand. so we're still at a stand still. >> paul: kim, why is the president so insistent on increasing tax rates? boehner has already put on the table a comparable amount of money to be gained from putting a cap on deductions, about 800 billion over ten years, so such a-- >> look, paul, two reasons. first is ideological. his partisans, his liberal base believe this is somehow a symbol of winning the tax fight and you can only do that by raising the rates on the wealthy
known as the fiscal cliff. despite a call between president obama and john boehner, the two sides appear to be no closer to a compromise. are republicans working on the scenes on a plan b? wall street journal columnist, dan henninger and kim strassel. you have bean working the phones, is there something going on between speaker boehner and the president? >> no, i think that they are nowhere and it's because the president is refusing to budge at all on the top toks ratestopx rates and...
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going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> pretty clear apple stock is having its worst week in more than two years. let's get to bertha coombs with the details. >> tough end of the week ear. it's apple's horrible, awful week. today's decline saw shares hit a real technical weak point, the so-called death cross. that's where the 50-day moving average, the top line in yellow, crossed below the orange line. that's the 200-day moving
going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them....
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i want to ask you about the fiscal cliff, the state of play. there's revenues on the table. there's tax rate increases on the table. i don't know if there's spending on the table. what's your thinking prigt now? >> that it's a really, really bad idea to raise taxes. if you want your economy to grow, you should do the opposite. we have to cut taxes. that's how i'd fix the economy. leave more money in the private sector. the president is adamant about raising taxes and he's dead wrong. >> there are some people saying we need a deal to avoid a huge tax increase but year end that would throw us into recession. just a thought, would you compromise in terms of let's say a smaller tax rate increase -- let's say the top rate goes to 37% instead of 40%, maybe the threshold goads es to $500,000 $750,000 rather than $250,000? does that interest you? >> no. but what about means testing for entitlement. why don't we say the rich get less social security and they pay more for their medicare? it meets the president's animus that we must get more money out of the rich. let's just send less
i want to ask you about the fiscal cliff, the state of play. there's revenues on the table. there's tax rate increases on the table. i don't know if there's spending on the table. what's your thinking prigt now? >> that it's a really, really bad idea to raise taxes. if you want your economy to grow, you should do the opposite. we have to cut taxes. that's how i'd fix the economy. leave more money in the private sector. the president is adamant about raising taxes and he's dead wrong....
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i think people really feel they sent people to washington to spend less money they're not going to do it if they raise the debt ceiling if that sounds like spending money and the g.o.p. is really to try to both parties have in the past but the g.o.p. this time they mischaracterize well. that means and i think a lot of people don't understand it their whole strategy depends on low information voters when it comes to the limits and people not understanding what it means and really where mcconnell's really are doing is raising the debt ceiling he's not preventing president over spending money he's basically saying america should become a deadbeat nation and not pay our bills and i think the white house made a big mistake yesterday when carney said we've taken the fourteenth amendment option off the table because if the republicans want to play games with the debt ceiling and question the credit of the united states which it was in direct contradiction of the fourteenth amendment the president should just say ok guys i'm just going to do it on my own and you can fight me in the courts if
i think people really feel they sent people to washington to spend less money they're not going to do it if they raise the debt ceiling if that sounds like spending money and the g.o.p. is really to try to both parties have in the past but the g.o.p. this time they mischaracterize well. that means and i think a lot of people don't understand it their whole strategy depends on low information voters when it comes to the limits and people not understanding what it means and really where...
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. >> the speaker, last week republicans made a serious offer to avert the fiscal cliff, and most of it was based on testimony given last year by president clinton's former chief of staff erskine bolles. as he said on sunday, we have to cut spending. well, he is right. washington has a spending problem. let's be honest, we're broke, and the plan that we've offered is consistent with the president's call for a balanced approach. a lot of people know that the president and i met on sunday. it was a nice meeting. cordal. we're still waiting for the white house to identify what spending cuts the president is willing to make as part of the balanced approach that he promised the american people. you know, where are the president's spending cuts? the longer the white house slow walks this process, the closer our economy gets to the fiscal cliff. here's what we do know. we know that the president wants more stimulus spending and an increase in the debt limit without any cuts or reforms. that's not physicianing our problem. frankly, it's making it worse. on top of that, the president wants to ra
. >> the speaker, last week republicans made a serious offer to avert the fiscal cliff, and most of it was based on testimony given last year by president clinton's former chief of staff erskine bolles. as he said on sunday, we have to cut spending. well, he is right. washington has a spending problem. let's be honest, we're broke, and the plan that we've offered is consistent with the president's call for a balanced approach. a lot of people know that the president and i met on sunday....
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veterans if no agreement is reached on the so-called fiscal cliff. this is 30 minutes. >> thank you, tommy, and, first, let me thank secretary panetta for the up waiverring support to us here at va, but the men and whim who wear and have worn the uniforms of our nation. our close partnership, this meeting that we had today on their plaf has never been more important than it is today. entering the holiday season, i thank the men and women who spend holidays away from our families deafing the nation, we're all great. for the service and sacrifice. as we discussed little of what we do and what originates here, what we work on originates in dod, and that's why achieving our priorities at va requires this close and collaborative working relationship. we have more work to do, but with president obama's strong support and guidance, we applaud the two departments closer together than ever before. we underwritten joint va dod medical facilities where they make sense, harmonizing acquisition decisions, committed both departments to a single common, joint, inte
veterans if no agreement is reached on the so-called fiscal cliff. this is 30 minutes. >> thank you, tommy, and, first, let me thank secretary panetta for the up waiverring support to us here at va, but the men and whim who wear and have worn the uniforms of our nation. our close partnership, this meeting that we had today on their plaf has never been more important than it is today. entering the holiday season, i thank the men and women who spend holidays away from our families deafing...
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Dec 6, 2012
12/12
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i'm going to tell you what others won't about the fiscal cliff. the head of starbucks said it will damage the u.s.'s reputation and shenanigans from capitol hill and with a cool 500 bucks to spend, should you use them now for a share in apple? apple says it will build some of the iconic mac computers in the u.s. listen to what apple ceo tim cook said to nbc's brian williams. >> so we've been working for years on doing more and more in the united states. next year, we will do one of our existing mac lines in the united states. >> but apple stock has been singing the blues for a few months. plummeted 25% off the all-high and a beating this week. 6.5% lower yesterday. apple up more than a percent today. kurndly around $544 a share. is now a good time to get in. you're all asking me. i'm asking katie stockton in connecticut. katie, is apple stock down off its high a phenomenally successful stock to hold for so many investors and showing the chart again. you look at technical trading patterns in the stock. do they tell you it's time to buy, sell or hol
i'm going to tell you what others won't about the fiscal cliff. the head of starbucks said it will damage the u.s.'s reputation and shenanigans from capitol hill and with a cool 500 bucks to spend, should you use them now for a share in apple? apple says it will build some of the iconic mac computers in the u.s. listen to what apple ceo tim cook said to nbc's brian williams. >> so we've been working for years on doing more and more in the united states. next year, we will do one of our...
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the fiscal cliff, the thing we have continued to look at is our economy. today in the whip's office we will have small family-owned businesses in there and talk about ways to protect the family business, continue to grow while at the same time make sure we solve this fiscal cliff. look, each and every day as we walk the halls, you continue to ask the questions. you want the answers to solving the fiscal cliff. we put the offer on the table and the president now has to engage. the next 72 hours are critical. if he sits back and continues to play politics, that will give you the answer of where we're going. this is the opportunity for the country to lead and opportunity for the president to lead. >> as these fiscal cliff negotiations and debate continues, i think it's important to remember that washington doesn't have a revenue problem, it has a spending problem. and under this administration, under president obama, we have seen record deficits and a record debt accumulate, and yet he keeps demanding that we have seen record deficits and a record debt accumu
the fiscal cliff, the thing we have continued to look at is our economy. today in the whip's office we will have small family-owned businesses in there and talk about ways to protect the family business, continue to grow while at the same time make sure we solve this fiscal cliff. look, each and every day as we walk the halls, you continue to ask the questions. you want the answers to solving the fiscal cliff. we put the offer on the table and the president now has to engage. the next 72 hours...
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Dec 5, 2012
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it's because the company blamed the fiscal cliff for its dramatically lower fiscal fourth quarter guidance which has sent the stock plummeting. it was down as much as 20% earlier today. the ceo joe kennedy says advertisers are being particularly cautious about spending in january which is included in pandora's fiscal fourth quarter. >> we did reduce guidance. i think it is very prudent because of this unique situation we have in which we're sensitive to the mix of ad spend in january as opposed to february and march. >> now, the last time pandora's stock dropped this much in one day was back in october on reports of apple preparing to launch a streaming music service. wall street analysts are keeping an eye on those very tough competitive issues as well as the fact that pandora spends over half its revenue on music licensing fees. the c.o.o. says he thinks the company is on good track and points to its mobile growth. though, investors do seem skeptical. brian. >> julia, thank you very much for that. we're going to leave it there. running a little short on time. is pandora's plunge a big bu
it's because the company blamed the fiscal cliff for its dramatically lower fiscal fourth quarter guidance which has sent the stock plummeting. it was down as much as 20% earlier today. the ceo joe kennedy says advertisers are being particularly cautious about spending in january which is included in pandora's fiscal fourth quarter. >> we did reduce guidance. i think it is very prudent because of this unique situation we have in which we're sensitive to the mix of ad spend in january as...
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so, sandra, if we hit this fiscal cliff, all the spending cuts kick in, what effect will that have on air travel? >> reporter: the big unknown is still how it will affect the everyday traveler. and that is certainly something a lot of people here are wanting to figure out. as for the air traffic controllers union, they released a statement this afternoon saying that it would be a major blow to the airline industry as well as the economy if these cuts are in effect. now, overall, we're talking about a nearly $2.2 billion projected cut to the department of transportation. half of that would come from the faa, and the tsa would suffer a $643 million spending cut. so according to the head of the tsa, they do have a plan b. they have a plan in place ready to go if these cuts are in place. now, he says that the overall front line operations would not be effective, but this would be a major severe budget cut and a lot of travelers here we spoke to, brooke, say they are paying close attention to the negotiations. >> it does concern me because, yes, i do travel not extensively, but enough on m
so, sandra, if we hit this fiscal cliff, all the spending cuts kick in, what effect will that have on air travel? >> reporter: the big unknown is still how it will affect the everyday traveler. and that is certainly something a lot of people here are wanting to figure out. as for the air traffic controllers union, they released a statement this afternoon saying that it would be a major blow to the airline industry as well as the economy if these cuts are in effect. now, overall, we're...
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joe, the big headline is the fact you lowered your guidance and blamed the fiscal cliff. how specifically will it affect -- >> sure, in our fiscal quarter, the current fiscal quarter ends january 31st, so we're you havely sensitive to the mix between what they spend in february and march versus what they spend? january and we're watching closely, but we have concern that the q1 spending may be unusually backweighted into february and march this year. >> but aren't you providing the kind of accountability and targeting that advertisers increasingly need? i mean, wouldn't advertisers, you know, when they're strapped for cash, be shifting out of businesses like newspapers into pandora? it seems like you should le thriving despite what's going on. >> and absolutely, if you ever look at the numbers, we had a terrific revenue we just reported. 60% year on year, and even at the reduced revenue guidance for the current quarter, we're looking at just under 50% year on year growth, so still tremendous progress, and particularly in the mobile world, where we looked to continue the t
joe, the big headline is the fact you lowered your guidance and blamed the fiscal cliff. how specifically will it affect -- >> sure, in our fiscal quarter, the current fiscal quarter ends january 31st, so we're you havely sensitive to the mix between what they spend in february and march versus what they spend? january and we're watching closely, but we have concern that the q1 spending may be unusually backweighted into february and march this year. >> but aren't you providing the...
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we are talking about domestic spending and what is on the table in the so-called fiscal cliff talks. charles clark is our guest. the me show you what president obama had to say yesterday in michigan. where he is on the tax rates. [video clip] when you put it all together, if you need a package that kids taxes where they are for middle- class families -- that keeps taxes where they are for middle- class families, make some cuts some things we do not need, and then asked wealthier americans to pay a slightly higher tax rate. that is a principle but i will not compromise on because i will not have a situation where the wealthiest among us, including folks like me get to keep our tax rates, and then we are asking students to pay higher student loans, were suddenly, a school does not have school books because the school district cannot afford it, or some family with a disabled kid is not getting the help they need through medicaid. host: here is how the speaker's office responded yesterday -- host: amy. indiana. you are up first. caller: good morning, mr. clark. 019 look at the spending a
we are talking about domestic spending and what is on the table in the so-called fiscal cliff talks. charles clark is our guest. the me show you what president obama had to say yesterday in michigan. where he is on the tax rates. [video clip] when you put it all together, if you need a package that kids taxes where they are for middle- class families -- that keeps taxes where they are for middle- class families, make some cuts some things we do not need, and then asked wealthier americans to...
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to reach a deal on the fiscal cliff. but use that debate as an economic one, says our next guest. chairman of the council of economic advisers under george w. bush and adviser to presidential candidate mitt romney. he's in new york city this morning. glenn, great to see you. >> good morning. likewise. >> what exactly does that mean? because of the context of higher taxes, and spending cuts, you would think there would be an economic impact. how can it not involve economics? >> well, there's certainly an economic impact. my point was just that the real issue for us is that our budget rules were designed for a different set of problems. you know, historically, movements in debt were about war and peace. you borrowed money to fight a war, you paid it off in peace time. now we're talking about the rise of the entitlement states. social security and medicare. we need different budget rules. this isn't just about a fiscal cliff. >> the demographics don't exactly help the problem either. we're in a time when the population is g
to reach a deal on the fiscal cliff. but use that debate as an economic one, says our next guest. chairman of the council of economic advisers under george w. bush and adviser to presidential candidate mitt romney. he's in new york city this morning. glenn, great to see you. >> good morning. likewise. >> what exactly does that mean? because of the context of higher taxes, and spending cuts, you would think there would be an economic impact. how can it not involve economics? >>...
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the longer the white house walks this process the closer our economy gets to the fiscal cliff. >> stephanie: how many times can the president say it? you know, this is not negotiable. tax rates have to go up on the wealthiest. >> right. well you know, it is a very strange situation. it does feel a lot like groundhog day. but i think john boehner knows what's going to happen and right now, what he's trying to do is make a deal that won't cost him his speakership and it also won't be undermined by people in his caucus. he needs to have a significant share of republican's vote for whatever we do and i think he's trying to do that. that's why he sent us home a day early last week and canceled business this week. i think he's trying to keep his own people out of town so he has more flexibility in coming up with a solution. >> stephanie: you know it seems to me, representative, you described it exactly right. that's the problem is that they're doing what's best for them politically and you know, the president and you guys are trying to do what's best for the country. what's best for people that a
the longer the white house walks this process the closer our economy gets to the fiscal cliff. >> stephanie: how many times can the president say it? you know, this is not negotiable. tax rates have to go up on the wealthiest. >> right. well you know, it is a very strange situation. it does feel a lot like groundhog day. but i think john boehner knows what's going to happen and right now, what he's trying to do is make a deal that won't cost him his speakership and it also won't be...
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host: a republican from missouri said, as washington debates the fiscal cliff on spending and taxes we should not forget the regulatory avalanche that awaits businesses in the new year. roughly 4,100 regulations are coming through the pipeline. not all regulations will affect small businesses, many will, however, and the compliance costs for small firms exceed that of their large competition by some 36%. guest: that -- it's difficult for a small business leader to come to the white house and talk about this. we try to put business leaders together to talk about those. on the regulatory front, the head of -- former hofede the office of regulatory affairs who recently left the white house were very aggressive about going out and meeting business leaders and looking for a new way to take input. cat's published results which -- before he left the white house which showed the rate of regulatory activity had drop and the value created by eliminating bad regulations or needless regulations and streamlining regulations had gone up when compared to the previous two administrations. guest: we're
host: a republican from missouri said, as washington debates the fiscal cliff on spending and taxes we should not forget the regulatory avalanche that awaits businesses in the new year. roughly 4,100 regulations are coming through the pipeline. not all regulations will affect small businesses, many will, however, and the compliance costs for small firms exceed that of their large competition by some 36%. guest: that -- it's difficult for a small business leader to come to the white house and...
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the fiscal cliff. oh my goodness, the fiscal cliff is now just -- wow, 20 days away. so what are we going to do? some have suggested that we really have to deal with entitlements. and i'm here to agree that we can and we should deal with entitlements. certainly two of those issues, which i really don't think we ought to call entitlements but are fundamental programs here in america for americans, should be dealt with. one that some people want to put on the table really doesn't deal with the deficit at all, and that's social security. so before we even get into this discussion tonight, let's just understand or anybody that cares to take on this issue that in dealing with the fiscal cliff, social security is not the problem. the deficit is not caused by social security. social security has never been and in its present form, will not be part of the deficit issue. it's separate and apart. it is a special program. has its own source of revenue. has its own trust fund and isn't running the deficit at all a
the fiscal cliff. oh my goodness, the fiscal cliff is now just -- wow, 20 days away. so what are we going to do? some have suggested that we really have to deal with entitlements. and i'm here to agree that we can and we should deal with entitlements. certainly two of those issues, which i really don't think we ought to call entitlements but are fundamental programs here in america for americans, should be dealt with. one that some people want to put on the table really doesn't deal with the...
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if he goes off to hawaii and spends three weeks there, and no deal happens and the fiscal cliff hits and we've got the largest tax increase in history and the markets plummet and he's sitting over there splashing in the surf, i don't think he can do it. >> i wonder what other nations think about us? this is, you know, is it a terrible problem we are going through right now, but we look like we can't handle our own business. we can't talk to each other, we can't figure out our own economics, and i can't think what kind of morale authority do we have in the world when we look so pathetic, so pathetic in terms of how we handle things and the fact that we don't? >> the problem with the american people is today they are -- greta, they are as deeply divided and polarized as we have almost ever been. look what boehner is could go right now in making a deal. he's violates his fundamental principles. he's violatings a commitment he made to the american people. he's doing something that he thinks will hurt the american economy, $800 million of tax on job creators, he's splitting his party, he'
if he goes off to hawaii and spends three weeks there, and no deal happens and the fiscal cliff hits and we've got the largest tax increase in history and the markets plummet and he's sitting over there splashing in the surf, i don't think he can do it. >> i wonder what other nations think about us? this is, you know, is it a terrible problem we are going through right now, but we look like we can't handle our own business. we can't talk to each other, we can't figure out our own...